Guideline Value for Udayalakshmi Nagar

Udayalakshmi Nagar guideline value

The current guideline value of Udayalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Udayalakshmi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 2,000 per sq.ft in the 2023 revision, and further increased to the current rate of Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Udayalakshmi Nagar is below this median.

• T.V.K. Link Road East (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 10th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 11th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 12th Street: Rs 2,700 per sq.ft (2024)
• T.V.K. Link Road: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 13th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Udayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Udayalakshmi Nagar?

The Sub Registrar Office that covers Udayalakshmi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded accurately and transparently.

When a property is sold, the guideline value helps determine the financial obligations of the buyer in terms of taxes and fees. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial commitments during the transaction.

Frequently asked questions

What is the current guideline value of Udayalakshmi Nagar?

The current guideline value of Udayalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 2,000 per sq.ft in 2012, Rs 1,340 per sq.ft in 2017, Rs 2,000 per sq.ft in 2023, and Rs 2,200 per sq.ft in 2024.

What is the land classification of Udayalakshmi Nagar?

Udayalakshmi Nagar is classified as Residential Class II Type - I under the Madhavaram SRO.

Where can I find the Sub Registrar Office for Udayalakshmi Nagar?

The Madhavaram Sub Registrar Office covers Udayalakshmi Nagar and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Udayalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.